Category: Economics

Does the Kra Canal Threaten Singapore?

A recent essay in The Independent (Singapore) warns that plans to construct a new canal across the Isthmus of Kra are an existential threat to Singapore. If the Kra Canal truly becomes a reality, ships would certainly consider by-passing the Strait of Malacca and Singapore altogether, making the Singapore‚Äôs all-important geographical location redundant. We may […]

Transactions Costs in Strange Places: Geertz on the “Bazaar Economy” of “Modjokuto”

Today I teach the Coase Theorem in my undergraduate Politics and Markets class. In a directed grad reading on Indonesian political economy, we are covering Clifford Geertz’s Peddlers and Princes. I did not anticipate that the two would have much relevance for one another, but they do. Specifically, the description of transactions costs in a […]